In this tutorial, I wanted to cover new customer sales and how you can discover this using Power BI.
The calculation and logic that we utilize to work out our new customer sales (or revenue) is very similar to just working out the absolute number of new customers that we have. The only difference is that we need to structure our DAX formulas in a slightly different way. That’s what this tutorial focuses on.
When you’re working out who your new customers are, you first of all need to make sure you have a sound understanding of how you classify a new customer.
This can vary over different industries and businesses, but the analysis and formula techniques here will almost always be the same. So don’t get too concerned with whether or not this example used is how you would classify a new customer. You can just adjust the internal parameters in the measures that I showcase and then change it to the logic that you need to apply for your own business.
The main difference around calculating new customer sales versus just new customers, is that we need to utilize a virtual table inside the filter context of the CALCULATE function.
So there’s certainly a little bit to that, but that’s what this tutorial goes into. What that actually means, and how to apply that in your own models to work out this great insight.
Understanding new customer sales is an important metric for a lot of organizations because you want to know how much your existing customers versus your new customers are purchasing from you.
In a lot of cases, having existing customers purchase more can be of much greater benefit to a lot of organizations because it is often a significantly less expensive way to generate more sales. (Certainly, this is open to debate because it depends on the cycle that the business is in and whether it’s a start-up or an existing company, among other factors).
Hopefully, you can get a lot out of this tutorial and also see how to implement some quite advanced logic inside of your Power BI models.
Good luck reviewing this one.
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